According to Google Trends data, Brazil was the Latin American country with the highest number of searches for the term Bitcoin in the new „world map of crypto currencies“. In relation to the other countries in the world, Brazil ranked second in the searches for the main cryptomone currency, with an interest of 92.6%.
On the other hand, Chile and Ecuador were positioned in the third and fourth place respectively. With 89.8% in Chile and 89.4% in Ecuador. Surprisingly, the country that looked for the term Bitcoin the most was Kenya with 94.7%.
The news that Kenya is the most „Bitcoin-maximalist“ country may not surprise those who watch the region closely, given that several players in the cryptography industry consider Africa to be the future of Bitcoin.
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Kenya in particular is witnessing a digital revolution. The East African country has a booming emerging scene and it was there that M-Pesa, a mobile payment system for unbanked Kenyans, was created.
Brazil represents the first Latin American country with greater interest in Bitcoin
Brazil is the first Latin American country with more interest in Bitcoin, according to Google Trends. Brazil is one of the Latin American countries that has shown more interest in cryptomonies and the adoption of their underlying technology.
In Brazil, there is a wide variety of platforms that provide services for buying and selling Bitcoin and other digital assets. From decentralized exchanges, to peer-2-peer and OTC platforms, or free sale cryptographic exchanges (over-the-counter market).
The Brazilian population is showing an increasing interest in cryptomonies and investment in this type of assets. However, as in other countries in the region, there are many myths about crypto-currencies and their use for criminal activities.
The truth is that there is a wide variety of businesses in the nation that have begun to adopt digital currencies as a payment alternative. From clothing stores, hairdressers, movie theaters, supermarkets, transportation, among others.
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Most of the businesses that accept Bitcoin and the assets as payment mechanisms are located in the south of the country, in cities like Sao Paulo and Rio de Janeiro.
In August 2019, Brazil’s Central Bank, BACEN, officially recognized Bitcoin and crypto-currencies as means of payment and included cryptoactives acquired by Brazilians outside Brazil in the country’s official balance of payments statistics, according to BACEN’s official publication on Aug. 26.
The document is a report of payments made in Brazil and includes cryptoactives, although these do not yet have official status in the country. Cryptoactives are included in the third part of the report dealing with the Trade Balance, indicating that the report was revised following the recommendations of the International Monetary Fund.
Important aspects to be highlighted in the world map of cryptomoney
On the world map of crypt coins you can see how Bitcoin is by far the most sought-after currency in all countries. This is not a surprise.
South America seems to be the most „Bitcoin-maximizing“ continent, with four countries in the Top 10. Asia seems to be more open to other cryptosystems. (Or maybe they’re just confirming the stereotype of the game). Finally Germany stands out as the only country in the world with more interest in IOTA than in Ethereum.
Venezuela, on the other hand, dominates in altcoins with great presence in the country like Litecoin and Bitcoin Billionaire, although the map does not show some other options like Dash, which points out to be the most accepted in the Latin American nation for quick payments.
Bitcoin’s search interest is the highest in Africa and South America
The world map of crypto-currencies displays the search interest of different currencies by country, with the data obtained from Google Trends.
Google Trends standardizes the search data to facilitate comparisons between terms. Consequently, a percentage of 90% for Bitcoin and 10% for Ethereum means that the search volume of „Bitcoin“ is nine times higher than that of „Ethereum“.